No Result
View All Result
Success American Investors
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
Success American Investors
No Result
View All Result
Home Investing

Rachel Reeves set to slash spending and sell off empty buildings

by
July 29, 2024
in Investing
0
Rachel Reeves set to slash spending and sell off empty buildings
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Rachel Reeves, the Chancellor, is set to unveil a series of stringent measures aimed at balancing the nation’s finances.

In a major speech, Reeves will outline plans to sell off empty public buildings and significantly reduce government spending on consultants, attributing the need for such measures to what she describes as Conservative economic mismanagement.

Reeves is expected to highlight a £20 billion deficit in government spending, accusing the previous administration of failing to make tough economic decisions and overspending by billions. To address these issues, she will introduce the Office of Value for Money, a new government agency focused on eliminating waste.

A key component of her strategy includes accelerating the sale of surplus public properties, a policy previously championed by George Osborne. This move is projected to save £500 million, adding to the £3 billion already raised through such sales since 2010. Additionally, Reeves aims to curtail the reliance on external consultants, which saw a sharp increase post-Brexit and during the pandemic, with firms like Deloitte, KPMG, EY, and PwC securing lucrative government contracts worth billions.

Despite advocating fiscal restraint, Reeves plans to allocate £10 billion to meet the public sector pay bodies’ recommendations for a 5.5% pay rise for teachers and doctors. She contends that her economic inheritance necessitates these tough measures, criticising the Conservatives for their failure to manage public finances effectively.

Reeves’s stance has faced criticism from senior economists, including Paul Johnson of the Institute for Fiscal Studies, who predicts inevitable tax rises under Labour. However, public sentiment appears to support her view, with a YouGov poll indicating that six in ten voters believe the Conservative party left the economy in a poor state.

Looking ahead, Reeves has committed to scrapping several major infrastructure projects, such as the £1.7 billion Stonehenge tunnel and the A27 Arundel bypass, and has pledged to hold one major fiscal event annually to ensure market stability.

In response, Gareth Davies, the Shadow Exchequer Secretary to the Treasury, has accused Reeves of attempting to deceive the public about the need for tax rises, criticising her approach as a continuation of previous policies rather than a genuine attempt at reform.

Read more:
Rachel Reeves set to slash spending and sell off empty buildings

Previous Post

How should government police the public domain?

Next Post

Money

Next Post

Money

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
  • Trending
  • Comments
  • Latest
Vertica: The new Israeli start-up challenger to Viagra proving ‘life-changing’ for men with ED

Vertica: The new Israeli start-up challenger to Viagra proving ‘life-changing’ for men with ED

February 14, 2024

Last Day to Give in 2023!

December 31, 2023
Idaho Bucks Managed Care Trend

Idaho Bucks Managed Care Trend

December 5, 2023

The Producer Price Index

September 9, 2023
London AI firm claims Getty copyright lawsuit is an ‘existential threat’ to generative tech industry

London AI firm claims Getty copyright lawsuit is an ‘existential threat’ to generative tech industry

0

0

0

0
London AI firm claims Getty copyright lawsuit is an ‘existential threat’ to generative tech industry

London AI firm claims Getty copyright lawsuit is an ‘existential threat’ to generative tech industry

June 10, 2025
Social media creators to eclipse traditional media in global ad revenue for first time

Social media creators to eclipse traditional media in global ad revenue for first time

June 10, 2025
UK wage growth slows and unemployment rises to four-year high

UK wage growth slows and unemployment rises to four-year high

June 10, 2025

Introducing Lobo Digital: London’s New Marketing Agency Providing Free Services to Businesses in the UK & Ireland

June 10, 2025

Recent News

London AI firm claims Getty copyright lawsuit is an ‘existential threat’ to generative tech industry

London AI firm claims Getty copyright lawsuit is an ‘existential threat’ to generative tech industry

June 10, 2025
Social media creators to eclipse traditional media in global ad revenue for first time

Social media creators to eclipse traditional media in global ad revenue for first time

June 10, 2025
UK wage growth slows and unemployment rises to four-year high

UK wage growth slows and unemployment rises to four-year high

June 10, 2025

Introducing Lobo Digital: London’s New Marketing Agency Providing Free Services to Businesses in the UK & Ireland

June 10, 2025

Disclaimer: SuccessAmericanInvestors.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 SuccessAmericanInvestors. All Rights Reserved.

No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock

Copyright © 2025 SuccessAmericanInvestors. All Rights Reserved.